I owe money to a bank; I might be in ChexSystems… Can’t I just go to a new bank?
It is always important to pay your outstanding bank account debt. Be advised, that just because you pay the bank, that WILL NOT clear you from ChexSystems, and you may still be declined a bank account.
The bank considers you a risk, and you need to prove to them, in writing, that you are no longer a risk.
They need to forgive you for whatever took place in the past.
Follow these steps as a guide:
- Negotiate the debt with the bank(s)
- Try to get a Paid in Full letter with a line stating that you will be removed from the bank.
- After the account is paid, contact the bank in writing; think of a persuasive letter to get them to forgive you.
- Continue to monitor your ChexSystems Report.
- Most importantly… Be Persistent!
If you are in ChexSystems and you go to another bank trying to be sneaky, they will decline you. Each time they decline you, it adds a new inquiry to your ChexSystems report. Solve the problem at it’s source.
Do not avoid it.